Chemical Industry Data

  Aerogel Industry Overview The global  aerogel market  size is expected to reach USD 2.52 billion by 2028, registering a CAGR of 15.1% over the forecast period, according to a new report by Grand View Research, Inc. Growing product usage for insulation applications in various industries, such as automotive, aerospace & defense, building & construction, oil & gas, and other industries, is expected to drive the market.   Aerogels provide innovative and eco-friendly solutions for light-diffusing and high-performance insulation in architectural daylighting applications. Cabot Corp. provides LUMIRA aerogel, water-repelling particles produced through a subcritical drying process that exhibits a broader scope of applications including subsea pipe insulation and daylighting. Various agencies like NASA are further researching on the aerogel material to broaden its application scope in exploring potential applications of thin polymer aerogels in cryogenics or...

  Cross Laminated Timber Industry Overview The global  cross laminated timber market  size is expected to reach USD 3.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.8% from 2022 to 2030. This growth can be attributed to the growing adoption of cross laminated timber, as solid wood construction of cross laminated timber has a high strength-to-weight ratio, making it superior for usage in structural flooring systems as it can withstand both, compressive and tensile stress and has an extremely high static load-carrying capability. Cross laminated timber market has been continuously witnessing expansion across the world. It is characterized by partnerships among major players to ensure their profitability and competitiveness in the market. For instance, in 2020, Stora Enso Oyj announced an investment worth USD 96.1 million in a new production line for manufacturing cross laminated timber at its sawm...

  Expanded Polystyrene Industry Overview The global  expanded polystyrene market  size is anticipated to reach USD 13.5 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 4.8% from 2021 to 2028. The rising demand for eco-friendly, lightweight, durable, and sustainable products and components, primarily for thermal and  acoustic insulation , in the automotive, construction, and packaging industries is driving the market growth over the forecast period.   Technological advancements and the growing popularity of  Electric Vehicles  (EVs) have increased the need for lightweight, durable, and recyclable products. A gradual increase in EVs on roads is expected to positively propel market growth. However, the Covid-19 pandemic has immensely affected the production of automobiles and the value chain of the automotive industry. Production cuts or halt in manufacturing activities, weak consumer sentiments, and declin...

  Bioactive Materials Industry Overview The global  bioactive materials market  size is estimated to reach USD 5.85 billion by 2028 registering a CAGR of 14.0% over the forecast period, according to a new report by Grand View Research Inc. Growing geriatric population coupled with the advancement in various surgical procedures is expected to drive the product demand in the market. Rising consumer awareness about health and well-being is projected to drive market growth during the forecast period.   The product helps in promoting  stem cell  structure and the transplanted stem cells offer enhanced therapeutic effects in surgeries. Thus, a wide scope of application for these products in the replacement and reconstruction of damaged cells, tissues, and bones is fueling the product demand in the surgery application sector. Moreover, increasing technological advancements coupled with the growing demand for dental care and orthopedics, due to high awareness ab...

  Plastic Contract Manufacturing Industry Overview The global  plastic contract manufacturing market  size is expected to reach USD 45.82 billion by 2028, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. Plastic is required by various end-use industries due to which, several end-users prefer to outsource plastic components as it reduces their production cost. This is expected to drive market growth over the forecast period. Polypropylene and polyethylene are increasingly being used for the production of medical devices. The growing demand for improved healthcare facilities and the rising number of hospitals have augmented the growth of the medical devices sector worldwide. The growing sales of medical devices are expected to be beneficial for the market growth.   Plastics can be easily molded into desired shapes using techniques, such as injection molding or 3D printing. Thus,...

  Turkey Automotive Plastic Compounding Industry Overview The  Turkey automotive plastic compounding market  size is anticipated to reach USD 451.3 million by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 5.8% over the forecast period. According to Automotive Distributors Association (ODD), owing to the support of marketing campaigns and easing of lockdown measures, light commercial vehicles and passenger car sales jumped by 60% year-on-year in July 2020. The demand for automotive vehicles in the country is expected to steadily rise, which, in turn, is projected to fuel the plastic compounding market in Turkey.   Rising environmental awareness among the consumers and stringent regulations regarding pollution control have compelled automotive original component manufacturers to control automotive emissions by utilizing innovative lightweight materials. Car weight reduction is one surefire method of achieving carbon em...

  Fire-resistant Glass Industry Overview The global  fire-resistant glass market  size is expected to reach USD 5.92 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period. Rising emphasis on improving the fire safety standards owing to increasing instances of fire accidents and the growing development of innovative infrastructure is expected to propel the market growth during the projected period.   Fire-resistant glass is produced for bearing heat and holding high temperatures, as a result, they provide a barrier against smoke, fire, and extreme heat. It is used in various applications like doors, windows, partition walls, and stairways, in numerous end-use industries including building & construction, marine, automotive, aerospace, and others. The rising product consumption in the building & construction industry owing to an increasing number of fire incidents and the imposition of s...

  Powder Coatings Equipment Industry Overview The global  powder coating equipment market  size is expected to reach USD 1.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.1% from 2021 to 2028. Growing demand for powder coating in the automotive industry owing to the emergence of electric vehicles is expected to augment market growth. The rising demand for powder coating equipment is attributed to the increased usage of powder coating owing to its advantages over conventional liquid coating. Moreover, the ability of powder coating to be recycled and reused aligns with the sustainability objectives for manufacturers resulting in the increased demand for powder coating equipment. The increasing preference for powder coating by automotive OEM coupled with the advent of electric vehicles is likely to augment the powder coating equipment demand primarily in the automatic coating systems. Furthermore, t...

  Powder Coatings Industry Overview The global  powder coatings market  size is expected to reach USD 20.8 billion by 2028, registering a CAGR of 7.2% from 2021 to 2028, according to a report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period primarily owing to the superior properties of powder coatings over conventional paints including high resistance to corrosion and chipping & abrasion, durability, cost-effectiveness, excellent finishing, and reduced processing time.   Growing purchasing power, high living standard, and rapid urbanization are expected to drive the consumer goods sector, thereby driving product demand for use in applications, such as refrigerators, washer tops and lids, air-conditioner cabinets, water heaters, range housings, dishwashers, microwave oven cavities, and freezer cabinets. Asia Pacific is estimated to register the fastest CAGR of 8.0%, in terms of revenue, over t...

  Cold Form Blister Packaging Industry Overview The global  cold form blister packaging market  size is expected to reach USD 5.69 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The market is anticipated to be driven by the growing end-use industries including healthcare, electronics and semiconductors, consumer goods, food and confectionery, and industrial products, particularly in Asia Pacific. The continuously increasing population, the increasing per capita income levels, and awareness regarding more efficient packaging solutions areprojected to drive the demand for better healthcare solutions. The rising adoption of health insurance, coupled with the increasing personal health expenditure, has triggered the market growth. The aluminum material segment accounted for the largest revenue share of over 40.0% in 2020. Aluminum foil is used in cold-form blister packaging because of it...

  Formaldehyde Industry Overview The global  formaldehyde market  size is expected to reach USD 12.21 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.7% from 2021 to 2028. The growth can be attributed to the increasing construction activities across the world. The product is also increasingly being used in the manufacturing of disinfectants, vaccines, and personal care products, including mouthwash and toothpaste, on account of its exceptional antibacterial attributes. Increasing demand for these products is likely to boost the demand for formaldehyde over the forecast period.   A majority of these companies in the market have integrated their business operations across the value chain to incur maximum profit at the lowest investment. With the outbreak of the COVID-19 pandemic, major end-use industries such as automotive, construction, and wood were shut down at a global level, which has a severe impa...

  Formaldehyde Industry Overview The global  formaldehyde market  size is expected to reach USD 12.21 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.7% from 2021 to 2028. The growth can be attributed to the increasing construction activities across the world. The product is also increasingly being used in the manufacturing of disinfectants, vaccines, and personal care products, including mouthwash and toothpaste, on account of its exceptional antibacterial attributes. Increasing demand for these products is likely to boost the demand for formaldehyde over the forecast period.   A majority of these companies in the market have integrated their business operations across the value chain to incur maximum profit at the lowest investment. With the outbreak of the COVID-19 pandemic, major end-use industries such as automotive, construction, and wood were shut down at a global level, which has a severe impa...

  Bio-based Polyurethane Industry Overview The global  bio-based polyurethane market  size is expected to reach USD 52.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 5.9% from 2021 to 2028. Increasing product demand from the automotive industry for the manufacturing of seat cushions, seat backs, armrests, head restraints, and others is anticipated to boost the bio-based PU market growth. In automotive applications, the use of natural fiber-reinforced plastics and plant-based polymer resins helps reduce CO2 emissions and the weight of vehicles, which, in turn, helps improve fuel economy. Thus, increasing government concerns to reduce CO2 emissions across the globe are anticipated to fuel the product demand in automotive applications during the forecasted years.   Expanding application scope in the packaging, building & construction, electrical & electronics, automotive, and consumer goo...